General Operating Fund Analysis Report for September, 2013. Prepared by: Karen Obratil, Treasurer/CFO October 28, 2013. Monthly Revenue by the Numbers. Monthly Revenue – September . FY14 = $2.4M. Forecast = $2.7M. FYTD Revenue by the Numbers. FYTD Revenue (July - September).
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General Operating FundAnalysis Report for September, 2013
Prepared by: Karen Obratil, Treasurer/CFO
October 28, 2013
FY14 = $2.4M
Forecast = $2.7M
FY14 = $3,380,213
Forecast = $3,371,348
What’s included in theFinancial Forecast?
Line 1.010 – General Property Tax (Real Estate)
66.6% of Total Operating Revenue
Real property is divided into two classes:
Class I – Residential and Agricultural
Class II – Commercial and Industrial
Line 1.020 – Tangible Personal Property Tax
(Public Utility Taxes)
4.2% of Total Operating Revenue
Res/Ag$750,842x 28.94 = $21,727,720
C/Ind$153,156x 30.84 = 4,722,922
P/U $25,931x 61.56 = 1,596,332
Inside Millsx 4.97 = 4,624,378
Tax Revenue estimate = $32,671,352
Line 1.035 - Unrestricted Grants-in-Aid 11.5% of Total Revenue
School Foundation program
Line 1.040 – Restricted Grants-in-Aid
Catastrophic Aid for special education students
Line 1.050 – Property Tax Allocation 13.8% of Total Revenue
Percentage of individual property tax bills paid by the State
12.5% of taxes due on all residential/agricultural property
also includes tangible personal property replacement revenue.
Line 2.040 - Operational Transfers-in
Money transferred from other funds into the General Fund.
Line 2.050 – Advances-in
Money returned to the General Fund for repayment of advances from other funds
Line 2.070 – All Other Financing Sources
Refunds of prior year expenditures
Medical (SuperMed+)$1,315.86 (renewal 7/14)
Total Family $1,506.45 ($18,077.40 annual*)
*Monthly premium holidays July and August, 2013.
Medical (SuperMed+) $560.19
Total Single $658.47 ($7,901.64 annual*)
Annual Insurance Costs
(electricity, natural gas, trash removal, telephones, water & sewer)
Fees are assessed based on approximately 1.5% of the tax collections.
Fees for services provided by the Summit County Educational Service Center.
Fees are approximately .2% of tax collections
Fees are assessed based approximately 1% of rollback and homestead collections.
Line 5.010 – Operational Transfers-Out
Money transferred into another fund.
Line 5.020 – Advances-Out
Money temporarily advanced to other funds